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Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a...

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Accounting

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Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.33 per micron Direct labor: 1.3 hours per toy at $710 per hour During July, the company produced 4,500 Maze toys. Production data for the month on the toy follow: Direct materials: 79,000 microns were purchased at a cost of $0.32 per micron. 39,625 of these microns were still in inventory at the end of the month. Direct labor 6,450 direct labor-hours were worked at a cost of $49,665 Required: 1. Compute the following variances for July: (Do not round intermediate calculations. Round final answer to the nearest whole dollar. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

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